Pros And Cons Of Buying A Home In The Winter Months – Do not let winter weather prevent you from considering buying a home this winter. Just because you may find the weather to be less desirable, does not mean that the homes will be. Actually the winter market is typically a great time to purchase a home! Consider the following pros and cons of buying a home in the winter months.
- Pro: If you can close out your house by the end of the year, you will find there is a good deal of items to reduce your taxes, including interest costs and property taxes. These deductions add up fast, which may benefit you in more ways than one.
More Moving Muscle:
- Pro: Because winter months are slower business for moving companies, it might be easier to book some moving help on short notice.
- Con: Winter months mean winter weather. Unexpected snowstorms or icy conditions can make moving a slower and delayed experience.
Less Market Competition:
- Pro: There may be fewer houses on the market in the winter, however that also means there are fewer buyers. Because the market is slower, sellers are potentially more motivated to move the homes and willing to negotiate.
- Con: Fewer houses on the market means fewer houses on the market. If you have a laundry list of “necessities” winter house hunting may not give you all the options you desire.
- Pros: Slower competition means more impatient agents, ready to sell! You can pick from the best of the best. Furthermore, real estate agents will be well suited to help you manage the winter buyer’s market.
- Pro: When shopping for a home, it is not often you can see a home stand up to strong winds or cold conditions. Seeing a house in the winter season allows you to see what it’s made of. You can check for drafty windows, leaky roofs, and overall coziness.
- Cons: While you may be able to asses the “bones” of the home, you won’t get the appeal that the summer and spring bring. You will have to “imagine” a blossoming yard and trees with leaves. Additionally, snow coverage may cover up less attractive or even problems with the yard and foundation.
- Pro: Because fewer loans are being processed through banks and mortgage lending companies during winter months and more realtors are more available, the total turn-around time for buying may be shorter than average.
If you are thinking about purchasing a home this winter, take some time with a real estate agent to consider the pros and cons of purchasing in the colder months. When it comes to purchasing a home, it always comes down to what is best for you and your situation, despite the season. There are always advantages and disadvantages to every buying season.